How Fake Agency Director Blew N400m – Police

The Nigeria Police Force (NPF) has uncovered how fake Director-General of a fictitious Presidential Economic Advisory Council (PEAC)/Presidential Foreign Intervention Promotion Council (PFIPC), Prince Adeniyi Adeyemi Matthew, blew N400 million on cars, relatives and luxury items.

Contrary to his claim, the police discovered that he never converted the N400 million to dollars.

There was no record he gave the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, any money.

The principal suspect also contradicted his allegations against Gbajabiamila by claiming that he secured the appointment in March 2024 and gave N400 million bribe to get appointment in 2025.

It was also discovered that he obtained another N100 million loan from a microfinance bank to meet up with his highlife taste.

But five top government officials have been identified and quizzed for playing a major role in facilitating the commission of the offences.

They are two directors in the Office of the Accountant-General of the Federation and the Office of the Head of the Civil Service of the Federation

Others are a Special Assistant in the Budget Office; an Assistant Director with the Ministry of Budget and Economic Planning; and a seconded staff from the Office of the Secretary to the Government of the Federation.

The police also grilled twenty two (22) suspects, whose names appeared in the course of the investigation.

These are the highlights of Police Investigation Report of July 24, 2026 exclusively obtained by The Nation

The Police had probed a case of alleged criminal conspiracy, forgery, impersonation, obtaining money under false pretences, theft of public funds and money laundering.

The same report has been made available to the Office of the Attorney-General of the Federation and Minister of Justice, sister security agencies and relevant Ministries, Departments and Agencies.

For the first time, the Police revealed the five names of those who aided Adeyemi to infiltrate the government MDAs.

The officials have also been recommended for trial by the police depending on the opinion of the Director of Public Prosecution (DPP).

The report contained the details of how money was wired into Adeyemi’s accounts and how it was spent.

The report reads in part: “The Nigeria Police Force is investigating a case of alleged criminal conspiracy, forgery, impersonation, obtaining money under false pretences, theft of public funds and money laundering reported through a written petition No.SH/COS/80/A/42 dated 17th October, 2025 by Rt. Hon. Femi Gbajabiamila, the Chief of Staff to the President, Federal Republic of Nigeria, addressed to the Director-General, Department of State Services (DG DSS) which was copied to the Inspector-General of Police for action.

“In the letter of complaint, attention of the Director-General, DSS and the Inspector-General of Police was drawn to the activities of fraudsters and impostors forwarding official appointment letters purportedly from the Chief of Staff to the President.

“The Inspector-General of Police directed the IGP-Monitoring Unit to investigate the case.

DL/ Nation